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Chapter 2: Q. c - For Critical Thinking (page 34)

If the U.N. follows through on a proposal to add production targets for 148 more items to its Sustainable Development Goals, why might we expect that the opportunity cost in terms of other goods and services that must be forgone could be even greater? Explain briefly.

Short Answer

Expert verified

Because the addition of new items will lead to less production of some other items thus the opportunity cost would be greater.

Step by step solution

01

Step 1. Opportunity Cost.

Opportunity cost is the next best alternative to satisfy the want.

02

Step 2. Reason.

The opportunity cost in terms of other goods and services that must be forgone will be greater because the resources used in the production of the new goods will be derived from the production of the existing goods will lead to greater opportunity cost.

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